Mezzanine Shop Flex
For Sale
$478,500
34227 Industrial Street, Soldotna, AK 99669
COMMERCIAL - Soldotna, AK
Property Size1,950 SF
Lot Size3.00 Acres
Price / SF$245.38
Days on Market15
Property Features for 34227 Industrial Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
UNK - Unknown
Parking
2
Directions
At the start of Funny River Road before buss barn on right, turn on industrial, 1st drive on right, see sign
Subdivision
1B - Kenai Peninsula Borough
Standard status
Active
APN
13519015
Size
1,950 SF
Lot size
3.00 Acres
Taxes and HOA fees
Tax Description
DERKEVORKIAN TR 1 EXCLUDING THAT PORTION LYING WITHIN THE FUNNY RIVER ROAD ROW #8 (CONDO-shared land)
Legal Description
DERKEVORKIAN TR 1 EXCLUDING THAT PORTION LYING WITHIN THE FUNNY RIVER ROAD ROW #8 (CONDO-shared land)
Utilities
Sewer type
Public Sewer
Heating system
Radiant, Natural Gas, Radiant Floor
Water source
Public
Building Details
Year built
2025
Floors in Building
2
Flooring type
Concrete
Building materials
Wood Frame - 2x6
Roof type
Metal
Listing Agency:
EXP Realty, LLC
(907) 519-0095
Listed By:
Katie Uei · License #18597
(907) 398-3864
Added: Jul 24
Changed: Aug 4
Last Checked: Aug 7 at 12:06AM
MLS# 26-9304
Copyright © 2026 Alaska Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Flex space designed around the “Kenai River Man Caves” concept, featuring a 49-foot deep by 30-foot-wide shop with a 16 by 30-foot mezzanine. The mezzanine has plumbing in place for a kitchen and gathering area, along with under-stair storage. The main level includes a full bathroom with a walk-in shower.
The property includes a gated area with room to turn a boat or RV. Each unit has its own independent heating system with gas and electric metering. Construction is wood frame (2x6) with concrete flooring and a metal roof. Heating is provided via natural gas radiant, including radiant floor heat.
Utilities include public water and public sewer service, supporting day-to-day operations for the individual units. Built in 2025, the site sits on 3 acres.
The property includes a gated area with room to turn a boat or RV. Each unit has its own independent heating system with gas and electric metering. Construction is wood frame (2x6) with concrete flooring and a metal roof. Heating is provided via natural gas radiant, including radiant floor heat.
Utilities include public water and public sewer service, supporting day-to-day operations for the individual units. Built in 2025, the site sits on 3 acres.
Key Highlights
- 49‑foot deep by 30‑foot‑wide shop with a 16 by 30‑foot mezzanine
- Plumbing in place in the mezzanine for a kitchen and gathering area
- Each unit has independent heating with gas and electric meters
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$33,669
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.04%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$673,380
$673.4K
Cap Rate 7%
$480,986
$481.0K
Cap Rate 9%
$374,100
$374.1K
Market Conditions
NOI Build-Up for 1,950 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$54.8K $28.08/SF
− Vacancy
−$3.0K −$1.52/SF
EGI
$51.8K $26.56/SF
− OpEx
−$18.1K −$9.30/SF
NOI
$33.7K $17.27/SF
Area
Kenai Peninsula County, AK
Vacancy
5.40%
Lease Rate
$28.08 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$673,380
Cap Rate 7%
$480,986
Cap Rate 9%
$374,100
Alternative Uses
Best Use
Flex RnD
$481.0K
$420.9K – $561.2K
NOI $33,669 @ 7.0% cap · market cap 7.04%
Second Best
Warehouse
$209.2K
$183.1K – $244.1K
NOI $14,645 @ 7.0% cap · market cap 3.06%
Theoretical Best
Multifamily LT 5
$13.52M
$11.83M – $15.78M
NOI $946,702 @ 7.0% cap · market cap 197.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Utilities to site
Location Intelligence
Demographics for 99669, AK
15,531
Population
8,221
Households
1.9
Avg Household Size
41
Median Age
28%
College-Educated
94%
High-School Grad
244.7 sq mi
ZIP Area
63
Density / Sq Mi
$84,133
Median Household Income
$44,918
Median Earnings
$1,205
Median Rent
$304,000
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Gated flex space with independent heating for each unit, natural gas radiant floor heat, and a bathroom on the main level.
Where is this flex space located?
The property is located at 34227 Industrial Street Soldotna, AK.
What is the asking price?
The asking price for this property is $478,500.
What are key features of this property?
This property features: 49‑foot deep by 30‑foot‑wide shop with a 16 by 30‑foot mezzanine; Plumbing in place in the mezzanine for a kitchen and gathering area; Each unit has independent heating with gas and electric meters
